Does glum economics coverage affect consumer confidence?

Hal Morris, writing on his Grumpy Editor blog, wonders if all of the negative stories about the economy affects the consumer confidence index.

Morris writes, “Grumpy Editor cites these news items, getting a play Wednesday, that are among developments certain to affect this month’s Conference Board report (based on input from 5,000 households), to be released April 29:

• Home sales fell in February to the lowest reading since the index began seven years ago.
• Four airlines ceased operations in a week.  Which will be the next?
• Minutes of the March 18 Federal Reserve meeting show some policy makers felt falling home prices and financial market turmoil ‘could lead to a more severe and protracted downturn.’
• Small business owners’ confidence in the economy is plummeting, prompting cutbacks in hiring and expansion plans.”

Read more here.